Tyra Biosciences, Inc. (NASDAQ:TYRA) Given Consensus Rating of "Buy" by Analysts

Key Points

• Tyra Biosciences has received an average rating of "Buy" from seven brokerages, with six analysts providing a buy rating and one giving a strong buy rating.
• The average 1-year price target for Tyra Biosciences according to analysts is $31.86, with some brokerages setting targets as high as $36.00.
• Insiders sold 16,392 shares of the company's stock in the past 90 days, indicating recent movements in management's holdings.

Tyra Biosciences, Inc. (NASDAQ:TYRA - Get Free Report) has been given a consensus rating of "Buy" by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.8571.

Several equities research analysts have weighed in on TYRA shares. Oppenheimer reissued an "outperform" rating and issued a $36.00 price target on shares of Tyra Biosciences in a report on Wednesday, September 10th. Wall Street Zen raised Tyra Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Friday, August 22nd. Piper Sandler initiated coverage on Tyra Biosciences in a report on Wednesday, May 21st. They issued an "overweight" rating and a $33.00 price target for the company. Finally, Raymond James Financial initiated coverage on Tyra Biosciences in a research note on Tuesday, September 2nd. They issued a "strong-buy" rating and a $35.00 price objective for the company.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. US Bancorp DE raised its stake in shares of Tyra Biosciences by 50.5% in the first quarter. US Bancorp DE now owns 5,435 shares of the company's stock worth $51,000 after purchasing an additional 1,823 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Tyra Biosciences in the fourth quarter worth about $60,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Tyra Biosciences in the first quarter worth about $84,000. Exchange Traded Concepts LLC raised its stake in shares of Tyra Biosciences by 42.7% in the first quarter. Exchange Traded Concepts LLC now owns 11,861 shares of the company's stock worth $110,000 after purchasing an additional 3,550 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tyra Biosciences by 14.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,182 shares of the company's stock worth $126,000 after purchasing an additional 1,668 shares during the last quarter. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Tyra Biosciences Stock Performance

TYRA stock traded up $0.64 during trading on Friday, reaching $12.79. 192,541 shares of the company traded hands, compared to its average volume of 229,982. The company has a market capitalization of $681.71 million, a price-to-earnings ratio of -7.19 and a beta of 1.10. The business has a 50 day simple moving average of $11.38 and a 200 day simple moving average of $10.30. Tyra Biosciences has a 12 month low of $6.42 and a 12 month high of $29.60.

Tyra Biosciences (NASDAQ:TYRA - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.06. As a group, research analysts forecast that Tyra Biosciences will post -1.57 EPS for the current year.

About Tyra Biosciences

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.